Centier Bank reported its third quarter financial results with total assets at $2.276 billion for the period ending September 30, 2013. The earnings for the third quarter were $6.8 million and this increased the nine-month period earnings to $20.6 million. This is a $2.3 million or a 12% increase over the $18.3 million of earnings for the same nine-month period of 2012. The Bank continued to see loan growth with an additional $28 million of net growth in the third quarter. This increases the net loan growth for the nine-month period to $103 million and net loans reached $1.85 billion on September 30th.
The Bank continues to see an extremely active residential mortgage market and has helped 964 customers purchase or refinance their mortgages on more than $147 million of home loans in 2013. Equity capital reached $225 million, an increase of $24 million in 2013 and $28 million over the past year. The Bank remains well capitalized by all regulatory standards.
“Consumers are ready for a new start, and many of them are starting with a new place to live,” stated Mike Schrage, Centier Bank President & CEO. “Our lenders and underwriting teams are working hard to get families into homes,” Schrage said in reference to the bank’s growing mortgage lending division, which has originated over $400 million in new first mortgages in the past two years. He expects to generate an additional $500 million in mortgages over the next two years, in support of homeownership.
Next year, Centier is planning to expand its retail presence, with two new branches in Lafayette, and new construction on full-service banking centers in Mishawaka and Carmel. “Our business plan has always included retail branches in St. Joseph, Hamilton, and Tippecanoe counties,” Schrage stated. “A key differentiator in banking with Centier is our personalized service, particularly in commercial banking, and businesses in these regions have responded well to us. Soon, they will have even more options from a full-service branch to address their personal and business banking needs.”
Small business lending has experienced a growth spurt as well, and Schrage credits a coordinated joint call effort between retail branch managers and Centier’s new small business lending division. The result is the bank’s ‘Retail Call Officer’ program, which provides proactive outreach to businesses within communities. The result, says Schrage, is a deeper understanding of business needs.
“We have created a unified team of about 15 bankers to meet the financial needs of small businesses around the state. To date, we have about $75 million in small business loans outstanding, and we’re just getting started,” says Schrage.
Founded in 1895, Centier is now the largest privately-owned independent bank in Indiana and remains committed to being owned and operated by the Schrage family in the future. The Bank has been named “Best Bank for Business” for the past eleven years by the Northwest Indiana Business Quarterly publication and was listed on the Indiana Chamber’s “Best Places to Work” top ten list for the past seven years. Centier Bank was also named The Times’ Best of the Region as Best Bank, Best Place to Work, Best Financial Advisor, and Best Customer Service. Most recently, Centier was named in the top five of the Top 50 Community Bank Leaders in Social Media. Centier currently has over 10,000 Facebook Likes and growing.